The Great Depression

The Great Depression

Period: Jan 1, 1929 to Dec 7, 1941

This is a breif timeline for the American Great Depression, It does not depict events leading up to the start of the depression, but those such events are still very important.

Wall Street Crash

Oct 29, 1929

Also known as "Black Tuesday". The American stock market collapses; share prices on the NYSE (New York Stock Exchange) collapsed. Stock prices fell on that day and they continued to fall, at an unprecedented rate, for a full month.

Unemployment in 1929

Dec 31, 1929

Unemployment averages 3.2% for the year.

Smoot-Hawley Tariff

Jun 17, 1930

Congress passes the Smoot-Hawley Tariff, steeply raising import duties in an attempt to protect American manufactures from foreign competition. The tariff increase has little impact on the American economy, but plunges Europe farther into crisis.

New York Bank Colapse

Dec 10, 1930

New York's Bank of the United States collapses in the largest bank failure to date in American history.[M31] $200 million in deposits disappear, and the bank's customers are left holding the bag.

Unemployment in 1930

Dec 31, 1930

Unemployment averages 8.9% for the year.

Unemployment in 1931

Dec 31, 1931

Unemployment averages 16.3% for the year.

Roosevelt Elected

Nov 8, 1932

Democrat Franklin D. Roosevelt defeats Republican President Herbert Hoover in a landslide to win the presidency.

Unemployment in 1932

Dec 31, 1932

Unemployment averages 24.1% for the year.

Townsend Pention Plan

Sep 1, 1933

Dr. Francis Townsend sends a letter to the Long Beach Press-Telegram proposing state-funded pensions for the elderly to boost consumption and employment.

Unemployment in 1933

Dec 31, 1933

Unemployment averages 24.9% for the year.

Townsend Plan Incorperated

Jan 1, 1934

Dr. Francis Townsend formally incorporates Old Age Revolving Pensions, Ltd., to lead the Townsend Plan movement.

Unemployment in 1934

Dec 31, 1934

Unemployment averages 21.7% for the year.

Unemployment in 1935

Dec 31, 1935

Unemployment averages 20.1% for the year.

Roosevelt Re-elected

Nov 3, 1936

Franklin D. Roosevelt is elected to a second term as president, winning in a landslide over Republican Alf Landon. Roosevelt wins every state but Maine and Vermont.

Unemployment in 1936

Dec 31, 1936

Unemployment averages 16.9% for the year.

Unemployment in 1937

Dec 31, 1937

Unemployment averages 14.3% for the year.

Unemployment in 1938

Dec 31, 1938

Unemployment averages 19.0% for the year.

Unemployment in 1939

Dec 31, 1939

Unemployment averages 17.2% for the year.

Pearl Horbor

Dec 7, 1941

The Japanese attack on Pearl Harbor draws United States into World War II. Mobilization for war finally lifts the American economy permanently out of the Great Depression.